california bank of commerce (CABC) Key Developments
CBC Business Credit Appoints Melinda Ficek as Vice President
Feb 25 14
CBC Business Credit announced the hiring of Melinda Ficek as Vice President. Ms. Ficek will be based out of Newport Beach/Los Angeles, CA area. Ms. Ficek will spearhead the Bank's business development activities in Southern California, focusing on the working capital credit needs of small and medium-sized businesses including traditional and asset based lending solutions (ABL). Ms. Ficek has over 15 years experience in loan origination and business development. Prior to joining CBC Business Credit, Ms. Ficek was an investor and assisted in the start up of BP4 Design. Other previous positions include ABL Business Development for First Capital, Celtic Bank and Medical Capital, Senior Loan Officer for E*TRADE Financial, and Independent Consulting.
California Bank Of Commerce Announces Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013
Jan 30 14
California Bank Of Commerce announced earnings results for the fourth quarter and full year ended December 31, 2013. The company reported net income of $2.6 million for the year. Return on average total assets was 0.72% and full year return on average tangible common equity was 9.48%. Net interest income increased $1.6 million or 14%, to $13.0 million. Basic net income to shareholders increased $0.9 million or 56%, to $2.4 million Basic earnings per average common share increased 56%, to $0.89.
Net interest income reached of $3.6 million in the quarter with the Bank's net interest margin increasing to 3.97%.
California Bank of Commerce Names Franklin E. Haggas as Vice President and Relationship Manager
Dec 13 13
California Bank of Commerce announced that Franklin E. Haggas has joined the bank as vice president and relationship manager. In his new role, Haggas will be responsible for developing and managing middle-market business relationships in the greater Bay Area. Haggas has over a decade of business banking, relationship management, and business development experience. He was most recently a vice president and senior business relationship manager at HSBC Holdings.
Franklin E. Haggas Joins California Bank of Commerce as Vice President and Relationship Manager
Dec 12 13
California Bank of Commerce announced Franklin E. Haggas has joined the Bank as Vice President and Relationship Manager. Mr. Haggas will be responsible for developing and managing middle-market business relationships in the greater Bay Area. Most recently, Mr. Haggas was a Vice President and Senior Business Relationship Manager at HSBC, where he was responsible for a portfolio of middle market business clients, providing credit, cash management, and trade finance solutions.
California Bank Of Commerce Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013
Oct 16 13
California Bank Of Commerce announced unaudited earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported interest income of $3,701,000 compared to $3,358,000 a year ago. Net interest income after provision of $3,279,000 compared to $2,620,000 a year ago. Income before tax provision was $1,286,000 compared to $857,000 a year ago. Net income was $744,000 against $486,000 a year ago. Income to common shareholders was $716,000 against $458,000 a year ago. Basic earnings per common share were $0.260 against $0.167 a year ago. Return on average assets was 0.81% against 0.57% a year ago. Return on average common equity was 10.91% against 7.66% a year ago. Book Value per share as on September 30, 2013 was $9.93 against $9.25 as of September 30, 2012.
For the nine months, the company reported interest income of $10,511,000 compared to $9,626,000 a year ago. Net interest income after provision of $9,098,000 compared to $7,418,000 a year ago. Income before tax provision was $3,109,000 compared to $2,190,000 a year ago. Net income was $1,895,000 against $1,238,000 a year ago. Income to common shareholders was $1,811,000 against $1,063,000 a year ago. Basic earnings per common share were $0.657 against $0.387 a year ago. Return on average assets was 0.72% against 0.53% a year ago. Return on average common equity was 9.51% against 6.71% a year ago.